DRV vs. ERY
DRV (Direxion Daily Real Estate Bear 3x Shares) and ERY (Direxion Daily Energy Bear 2X Shares) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%). Both are passively managed. Over the past 10 years, DRV returned -29.40%/yr vs -33.21%/yr for ERY. At a 0.39 correlation, their price movements are largely independent. DRV charges 1.08%/yr vs 1.07%/yr for ERY.
Performance
DRV vs. ERY - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -29.93% return, which is significantly higher than ERY's -37.05% return. Over the past 10 years, DRV has outperformed ERY with an annualized return of -29.40%, while ERY has yielded a comparatively lower -33.21% annualized return.
DRV
- 1D
- -4.91%
- 1M
- -4.37%
- YTD
- -29.93%
- 6M
- -30.51%
- 1Y
- -22.15%
- 3Y*
- -27.14%
- 5Y*
- -17.01%
- 10Y*
- -29.40%
ERY
- 1D
- -2.05%
- 1M
- 15.94%
- YTD
- -37.05%
- 6M
- -37.59%
- 1Y
- -42.88%
- 3Y*
- -25.97%
- 5Y*
- -36.31%
- 10Y*
- -33.21%
DRV vs. ERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | -29.93% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
ERY Direxion Daily Energy Bear 2X Shares | -37.05% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
Correlation
The correlation between DRV and ERY is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.39 |
Over the past year, the correlation between DRV and ERY has dropped to 0.12 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
DRV vs. ERY — Risk / Return Rank
DRV
ERY
DRV vs. ERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and Direxion Daily Energy Bear 2X Shares (ERY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DRV | ERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.83 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.76 | +0.08 |
| Martin ratioReturn relative to average drawdown | -1.47 | -1.35 | -0.11 |
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Drawdowns
DRV vs. ERY - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, roughly equal to the maximum ERY drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for DRV and ERY.
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Drawdown Indicators
| DRV | ERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.99% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -32.86% | -56.88% | +24.02% |
Max Drawdown (3Y)Largest decline over 3 years | -71.93% | -67.94% | -3.99% |
Max Drawdown (5Y)Largest decline over 5 years | -74.35% | -94.04% | +19.69% |
Max Drawdown (10Y)Largest decline over 10 years | -97.42% | -99.66% | +2.24% |
Current DrawdownCurrent decline from peak | -99.99% | -99.99% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -97.75% | -96.91% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.12% | 31.69% | -16.57% |
Volatility
DRV vs. ERY - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 16.42% compared to Direxion Daily Energy Bear 2X Shares (ERY) at 14.26%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than ERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | ERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.42% | 14.26% | +2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 33.31% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.62% | 41.74% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.12% | 51.84% | +5.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 70.55% | -7.73% |
DRV vs. ERY - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than ERY's 1.07% expense ratio.
Dividends
DRV vs. ERY - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 4.00%, more than ERY's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | 4.00% | 2.88% | 4.57% | 5.35% | 0.38% | 0.00% | 0.58% | 1.71% | 0.42% |
ERY Direxion Daily Energy Bear 2X Shares | 3.30% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
Frequently Asked Questions
DRV and ERY have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (16.42%) compared to ERY (14.26%). In terms of maximum drawdown, DRV dropped -99.99% vs ERY's -99.99%.
On 10-year performance, DRV leads with -29.40% vs -33.21% for ERY. On fees, ERY is cheaper at 1.07% per year. On volatility, ERY has been the lower-risk option at 14.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DRV has performed better with a -29.40% return vs -33.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ERY is cheaper with a 1.07% expense ratio, compared with 1.08% for DRV.
DRV has the higher dividend yield at 4.00%, compared with 3.30% for ERY.
DRV is categorized as REIT, while ERY is Leveraged Equities. DRV tracks MSCI US REIT Index (-300%), while ERY tracks Energy Select Sector Index (-300%). Their fees differ too: 1.08% for DRV and 1.07% for ERY.
DRV currently has the higher Sharpe Ratio (-0.52 vs -1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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